D. E. Shaw surges SPY stake to $10.5B, adds to AMZN and NVDA, while trimming MSFT and Broadcom

D. E. Shaw & Co., Inc.'s Q2 2026 13F filing reveals substantial reallocation across broad-market indices and mega-cap technology holdings within its $210.20 billion reported portfolio. The fund executed a massive expansion in its core ETF exposure, boosting its State Street SPDR S&P 500 ETF (SPY) holding by 1,782% to $10.48 billion, up from $484.83 million in the prior quarter, alongside a 327% increase in Invesco QQQ Trust (QQQ) call options to $2.36 billion.

Across individual equities, the firm leaned heavily into select mega-cap tech names while trimming semiconductor and legacy software exposure. Holdings in Amazon (AMZN) rose 131% to $2.61 billion, Nvidia (NVDA) grew 36% to $4.01 billion, and Meta Platforms (META) advanced 80% to $1.91 billion. Both share classes of Alphabet (GOOG and GOOGL) saw increases, reaching a combined equity value of $5.22 billion. Conversely, D. E. Shaw reduced Microsoft (MSFT) by 42% to $1.33 billion, Broadcom (AVGO) by 58% to $1.03 billion, and Taiwan Semiconductor Manufacturing (TSM) by 75% to $369.19 million.

Notable new additions and exits also marked the period. The fund initiated a new $912.39 million stake in Space Exploration Technologies Corp. (SPCX) and added two tranches of Alphabet debt totaling nearly $992 million. On the exit side, the firm fully closed its position in Western Digital Corp debt previously valued at $1.09 billion and liquidated $585.31 million in SPDR S&P 500 ETF call options.

Position changes